Small US Mortgage Calculator – help

/Small US Mortgage Calculator – help
Small US Mortgage Calculator – help 2017-01-24T12:19:40+00:00

Project Description

This Small US Mortgage Calculator is designed to do 2 type of calculations:

  • Calculate your periodic payment or
  • the principal amount you can borrow:
Small US mortgage calculator help

Small US mortgage calculator help

A- How to find your periodic payment:

  1. Enter the principal (the amount you want to borrow)
  2. Enter the interest rate (annual percentage)
  3. Enter the length of the loan (the amortization period in months)
  4. Enter the term of the loan (the length of the loan contract)
    Note: As a rule, US mortgages do not have terms per say. However, the "Term (months)" input can be used to see how much of the loan has been repaid after x number of months.
  5. Select the payment type.
    You have the following options:
    Annually,
    Semi-Annually,
    Monthly,
    Bi-weekly,
    Weekly,
    Accelerated bi-weekly, and
    Accelerated weekly
  6. Click on "Calculate Payment".

B- How to find the amount you can borrow:

  1. Enter all the above information, except for the principal (1) that you leave as is.
  2. Enter the amount of your periodic payments (7)
  3. Click on "Calculate Principal" (8)
Small US mortgage calculator help

Small US mortgage calculator help

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